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Stock Market & Financial Investment News

News Breaks
April 23, 2012
07:43 EDTJAKKJakks Pacific upgraded to Buy from Hold at Needham
Needham upgraded Jakks Pacific citing the boards moves to increase shareholder value which include, a $80M self tender offer at $20 per share or higher, board expansion from six seats to eight, and an agreement to meet and provide certain information to Oaktree Capital Management. Price target is $22.
News For JAKK From The Last 14 Days
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July 21, 2014
10:19 EDTJAKKHasbro tumbles after lower games performance weighs on sales
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July 17, 2014
10:55 EDTJAKKMattel topples after Q2 earnings miss estimates
Shares of global toy product manufacturer Mattel (MAT), are toppling over after the company's second quarter earnings results fell below analysts' consensus. WHAT'S NEW: Mattel's reported Q2 earnings per share of 8c, which was not comparable to a consensus of 18c since the company said its EPS number included a tax benefit of 11c per share and a negative impact of 7c per share of MEGA Brands acquisition and integration costs. Excluding both of these items, EPS was 3c per share. Mattel's Q2 revenue was $1.06B, which missed analysts' consensus estimates of $1.19B. For Q2, the company reported that its Girls and Boys Brands sales were down 13%, Fisher-Price Brands sales were down 17%, American Girl Bands revenue was up 6% and revenue from its Construction and Arts & Crafts Brands was $61.6M. WHAT'S NOTABLE: During its earnings conference conference call, Mattel said that it plans to increase advertising spending in the second half of the year to build momentum for key brands. It sees improving global trends in point-of-sale but says the company still has a lot of work to do to improve those trends. As Mattel looks to the third quarter, it sees continued challenges from current headwinds. With the MEGA brands deal now closed, the company aims to improve profitability of MEGA brands on a global basis and believes the acquisition will be accretive to earnings in fiscal year 2015. It expects lower international sales and is investing heavily in markets in Russia and China. Mattel is looking to maintain gross margins in the low to mid-50% range in near term. It noted that it aims to achieve a modest increase in SG&A due to severance and ongoing growth investments, excluding the MEGA Brands acquisition. Inventory fair value adjustment related to existing MEGA Brands-owned inventory should wind down in Q3, the company said. Amortization is expected to decrease to $17M in 2015 and $9M in 2016. PRICE ACTION: Shares of Mattel are down $2.31, or 5.92%, to $36.72 in morning trading. OTHERS TO WATCH: Mattel peer Hasbro (HAS), which reports quarterly earnings on July 21, is relatively flat at $52.59. JAKKS Pacific (JAKK) is up almost 1.5% to $8.20 and and LeapFrog (LF) is up 3.02% to $7.66.
July 10, 2014
17:23 EDTJAKKWolverine Asset Management reports 10.1% passive stake in JAKKS Pacific
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